Fall in second charge mortgage repossessions
2/15/2012
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Second charge mortgage lenders repossessed 827 homes in 2011, according to the Finance & Leasing Association (FLA).
That was a 4.3 per cent fall on the 864 repossessions recorded in 2010 but this was due to a sharply lower total in the first three months of the year. The repossession rate has been rising each quarter since then and the total of 178 repossessions in the fourth quarter was up 11.3 per cent on a year ago.
Source: AboutProperty.co.uk